As the financial crisis affects the real estate sector in the region, Qatar is feeling the impact as well. Since the last quarter of 2008, sales have dropped considerably, the price of land and property has fallen and so have rents. “There is an 80 percent decrease in the volume of sales,” says David Oayda, general manager at Asteco Qatar. Property prices have not decreased to the same extent, since most developers and landlords are adopting a wait-and-see approach — not selling or buying until the economic situation stabilizes and lending comes back. Property prices have decreased by 30 percent, according to real estate services firm Jones Lang LaSalle, while others consider the plunge more severe. Land prices have been impacted as well with a decrease of around 50 percent in the suburbs and 30 percent in the capital Doha. Rents are witnessing a large decrease with new units available,
